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The global vegetable capsules market size is estimated to grow by USD 274.25 million at a CAGR of 8.68% between 2023 and 2028.
Vegetable capsules market Share
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant growth due to the increasing consumer preference for natural and plant-based products. Elevated awareness of the potential health benefits associated with these ingredients is driving the demand for vegetable capsules. Consumers, concerned about the impact of synthetic substances, are seeking healthier and more sustainable alternatives, and plant-based cellulose-derived vegetable capsules align with this preference. This has led to substantial growth in the demand for vegetable capsules in the pharmaceutical industry, especially for encapsulating herbal supplements and nutraceuticals, given their compatibility with various active ingredients and protective qualities against degradation.
The global vegetable capsules market is expected to thrive during the forecast period, propelled by the rising consumer inclination towards natural and plant-based products influenced by health consciousness, sustainability, ethical considerations, and clean-label trends.
The market is experiencing growth driven by a rising focus on sustainable packaging. With growing concerns about plastic waste and environmental sustainability, consumers and regulatory bodies are actively seeking eco-friendly packaging solutions. Vegetable capsules, being plant-based and biodegradable, meet these sustainability requirements, fostering their adoption and market demand. A key driver for the global vegetable capsules market's growth in sustainable packaging is the changing consumer mindset, as people become more environmentally conscious and seek products aligning with their sustainability values.
Furthermore, consumers increasingly favor companies demonstrating commitment to sustainability, leading to enhanced customer loyalty and market share. Consequently, changing consumer preferences, stricter regulations, and the recognition of the business benefits are expected to drive the adoption of vegetable capsules and contribute to the global market's growth during the forecast period.
A significant obstacle to market growth is the limited awareness and availability of vegetable capsules. When consumers and manufacturers are unaware of the existence and benefits of vegetable capsules, they often opt for the familiar traditional gelatin capsules. This lack of awareness constrains demand for vegetable capsules, creating a mismatch between consumer demand and available products. Additionally, limited availability in certain regions or markets exacerbates the issue, making it challenging for the global vegetable capsules market to gain traction and expand. This restriction on vendors' ability to meet consumer demand negatively impacts the market's potential for growth during the forecast period.
The application segment is classified into health supplements, pharmaceuticals, and others. The material segment is classified into cellulose, starch, and pullulan. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW).
The market share growth by the health supplements segment will be significant during the forecast period. Health supplements include nutraceuticals and dietary supplements. Vegetable capsules are extensively used in the encapsulation of various health supplements, including vitamins, minerals, herbal extracts, probiotics, and other nutraceutical ingredients. Health supplements have gained immense popularity among consumers globally, driven by the growing awareness and emphasis on personal health and wellness.
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The health supplements segment was the largest and was valued at USD 180.66 million in 2018. Health-conscious consumers opt for nutraceuticals to obtain maximum medical and personal benefits. Nutraceuticals play an important role in modifying and maintaining the physiological functions required for the proper functioning of the body. Nutraceuticals that contain antioxidants, probiotics, and polyunsaturated fatty acids help in managing health issues such as obesity, cardiovascular diseases, cancer, high cholesterol, osteoporosis, arthritis, and diabetes. Thus, the demand for nutraceuticals is increasing rapidly, which, in turn, will drive the demand for vegetable capsules and thus will contribute to the growth of the global vegetable capsule market in the health supplements segment during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The vegetable capsules market in North America is expected to witness significant growth during the forecast period. One of the key driving factors is the increasing adoption of vegetarian and vegan lifestyles among consumers in North America. As a result, there is a growing demand for plant-based alternatives in various industries, including pharmaceuticals, nutraceuticals, and dietary supplements, which contributes to the growth of the vegetable capsules market in North America during the forecast period. The demand for nutraceuticals and supplements is rising rapidly in North America as more and more people are looking for natural ways to improve their health and well-being. Vegetable capsules are a popular choice for nutraceuticals and supplements, as they are a convenient and effective way to deliver active ingredients to the body.
In addition, the US is the leading country for nutraceuticals in North America. The major dietary supplements consumed in the US are multivitamins, calcium and vitamin D supplements, and omega-3 fatty acids. The consumption of these supplements is driven by the ageing baby boomer population, who are more attentive toward healthy ageing than their predecessors to prevent age-related diseases. Therefore, the growth in the nutraceuticals and dietary supplement industries in North America will increase the demand for vegetable capsules, which will positively impact the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACG - The company offers vegetable capsules such as ACGcaps HR capsules, ACGcaps H plus capsules, and ACGcaps HL capsules.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Vegetable Capsules Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.68% |
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Market growth 2024-2028 |
USD 274.25 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.22 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 39% |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ACG, Ajix Inc., BioCaps Enterprise, Dah Feng Capsule Industry Co. Ltd., Erawat Pharma Ltd., Evonik Industries AG, Farmacapsulas S.A., Fortcaps Healthcare Ltd., J RETTENMAIER and SOHNE GmbH and Co KG, JC Biotech Pvt. Ltd., Lefancaps LTD., Lonza Group Ltd., Mitsubishi Chemical Group Corp., Natural Capsules Ltd., Qingdao Yiqing Biotechnology Co. Ltd., Shaanxi Genex Bio Tech Co. Ltd., Shaoxing Zhongya Capsule Co. Ltd., Silvaco AS, Suheung Co. Ltd., and Sunil Healthcare Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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